MetroHealth System to borrow $1.25B for new hospital

CLEVELAND (AP) — MetroHealth System officials have announced plans for the Ohio health care cooperative to borrow $1.25 billion for the construction of a new hospital on its main campus in Cleveland.

By 2022, MetroHealth officials hope to move patients out of its iconic twin round towers and into the new nine-story facility, which will be connected to the recently opened Critical Care Pavilion.

The towers, built between 1962 and 1972, will likely be demolished. They were largely funded through tax levies. The health system was able to finance an $855 million building plan for the new hospital without taxpayer assistance.

Since 2005, MetroHealth has spent $80 million in building repairs. President and CEO Akram Boutros says the system's patients deserve a better facility than what they are currently offered.
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